They’re cashing out.
A Texas firm that moved money tied to illegal online gambling agreed yesterday to forfeit more than $6 million in tainted cash to the feds.
LST Financial of San Antonio and managing director Gregory Colton also promised “not to knowingly provide, either directly or indirectly, payment processing services for Internet gambling, including Internet poker,” according to papers filed in Manhattan federal court.
In return, the company will get back an unspecified amount of frozen funds that didn’t come from illegal betting.
LST, which admitted no wrongdoing, had claimed it was duped into processing players’ payments to three online poker parlors whose American operations were shut down by the FBI last year.